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CityDev's takeover offer of M&C likely to get approval from minority shareholders: RHB

PC Lee
PC Lee6/10/2019 10:46 AM GMT+08  • 4 min read
CityDev's takeover offer of M&C likely to get approval from minority shareholders: RHB
SINGAPORE (June 10): RHB Research says CDL’s revised takeover offer to acquire the remaining 35% stake of its subsidiary Millennium & Copthorne hotels (M&C) is likely to gain approval from minority shareholders.
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SINGAPORE (June 10): RHB Research says CDL’s revised takeover offer to acquire the remaining 35% stake of its subsidiary Millennium & Copthorne hotels (M&C) is likely to gain approval from minority shareholders.


See: CityDev launches another takeover bid for Millennium & Copthorne Hotels with 685 pence per share offer

RHB says the move is a long-term positive that should help CDL better reposition its ageing hotel assets and also result in a significant increase in its near-term capex.

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